BUSINESS
Indian Oil JV firm to raise up to Rs 1,200 crore to finance CBG plant projects
Indian oil majors are pivoting towards biofuels like CBG to enhance energy security, reduce greenhouse gas emissions, and achieve net-zero goals.
BUSINESS
JSW Energy bumps capex to Rs 1.15 lakh crore for 'Strategy 2.0'
The investment will likely be directed towards various renewable energy projects, including solar, wind, and energy storage technologies
BUSINESS
Centre issues guidelines for funding of testing facilities, infra under National Green Hydrogen Mission
For government entities, MNRE will fund up to 100 percent of the capital cost for equipment, installation, and commissioning of the equipment while for priavte entities the ministry will cover 70 percent of the cost, according to the guidelines.
BUSINESS
Budget 2024: Metals and mining industry seeks spending boost on infrastructure, logistics
In the interim budget, the sector was disappointed by the lack of specific announcements or allocations.
BUSINESS
NHAI issues show cause notices to 11 steelmakers flagging quality issues of TMT bars
Thermo-Mechanically Treated (TMT) bars play a critical role in highway construction, providing several essential benefits that ensure the durability, safety, and longevity of road infrastructure
BUSINESS
Why Russia's new trade route to India is pertinent to the domestic steel industry: MC explains
Coking coal prices saw a significant increase in 2022 and peaked at approximately $670 per tonne. This rise in prices put substantial pressure on the margins of Indian steel producers, leading to higher steel prices domestically.
BUSINESS
Tata Steel launches legal action against UK union over strike call
Around 1,500 Tata Steel workers in Britain will begin an indefinite strike from July 8 over the company's plans to close two blast furnaces and cut up to 2,800 jobs, the trade union Unite said on June 21.
BUSINESS
Skilled labour shortage challenges India's infra ambitions
While the exodus of workers post Covid has left construction firms struggling, extreme weather conditions have compounded the problem, resulting in lower labour turnout at project sites.
BUSINESS
Secondary steel sector continues to tap IPO market, driven by govt's infra push, capex plans
On June 20, Vraj Iron and Steel formally launched its initial public offering (IPO), making it the third SME in the sector to go public in the last six months.
BUSINESS
Too early to discuss LTIMindtree’s CEO succession plan, says L&T’s AM Naik
LTIMindtree's chairman emeritus Naik has shared that the conglomerate would start to look for a successor to CEO Debashis Chatterjee only six to nine months before his term ends.
BUSINESS
LTIMindtree, LTTS jointly announce $200 million Gen AI deal pipeline
Between the two companies, L&T Group has trained around 35,000-40,000 engineers in generative AI skills.
BUSINESS
Vedanta subsidiary to sell stake worth over Rs 4,300 crore amid plans to trim debt
Post repayments made from the transaction, VRL would have reduced its debt by upwards of $650 million since the beginning of FY 2025, according to the statement.
BUSINESS
Partial reimbursement of exploration expenses: Who are the beneficiaries and what are the implications? MC explains
The move is expected to benefit private exploration agencies involved in the search for critical and deep-seated minerals.
BUSINESS
Fourth critical minerals auction kicks off next week under a new Minister
The Mines Ministry has launched three tranches of auction of 38 mineral blocks, aimed to strengthen the domestic supply of raw materials needed to support India's green energy shift.
BUSINESS
Why are Indian cement companies moving South? MC explains
Southern states have the largest share in cement production (33%), followed by north (22%), east (19%), west (13%), and central (13%).
BUSINESS
India's renewable energy goal need investment of $190 bn-$215 bn by 2030: Moody's
India will have to add about 50 GW of renewable energy capacity annually over the next five years, beginning 2024, to meet the country ambitious clear energy target. So far, India’s best performance has been 15 GW a year.
BUSINESS
Afcons expects significant rise in FY25 capex, exceeding normal Rs 500-600 crore range
The EPC company will raise Rs 1,250 crore through a fresh issue and Rs 5,750 crore through offer for sale. It will set aside Rs 500 crore from the proceeds for debt repayment.
LOK-SABHA-ELECTION
Pralhad Joshi appointed as Minister of New and Renewable Energy. What's in store for the sector?
In the second-term under PM Modi, Joshi was leading the coal ministry which has now been given to Kishan Reddy. Meanwhile, power ministry would be run by the former Haryana chief minister ML Khattar under the NDA government.
BUSINESS
Kishan Reddy is the new Minister of Coal and Mines. What could be his top priorities?
As the backbone of India's energy and industrial framework, the sector is focused on increasing domestic coal production, reducing reliance on imports, and adopting sustainable mining practices.
LOK-SABHA-ELECTION
HD Kumaraswamy is the new Minister of Steel. What should be his strategic agenda?
His appointment comes at a critical juncture for the Indian steel sector, which is poised for significant growth and transformation as it enters 2024.
BUSINESS
JSW Energy's maiden green hydrogen plant to begin operations in March 2025: CEO
JSW Energy has total locked-in generation capacity of 13.3 GW of which 7.3 GW is operational, 2.6 GW is under-construction across wind, thermal and hydro and 3.4 GW is in the pipeline.
BUSINESS
Steel ministry ropes in consultant to explore use of green hydrogen in manufacturing
India aims to bring down steel sector's carbon emission through green hydrogen, challenges pertaining to its affordability and availability remain an issue
LOK-SABHA-ELECTION
AAP loses out on Kurukshetra lok sabha seat, Jindal won by 29,021 votes
In previous elections, AAP had limited success in Haryana, but it has been gaining traction over the years, especially after its impressive performance in Delhi and Punjab Assembly elections.
BUSINESS
Tata Steel's Rs 17,000 crore capex is aimed at India's domestic demand, says TV Narendran
India deliveries contributed 68 percent of Tata Steel's total deliveries but the steelmakers sees margins to be flattish in FY25.
